The Colbert Real Estate Report

Monthly Market Update for December 2015

Jackson Hole, WY

What’s new in Nov 2015? (New Listing Analysis)

• 18 :: Total number of new listings in November
  • Average List Price: $1,400,000
• 15 new residential properties (single family, condo, townhome)
  • Average List Price: $922,000
  • New listings already under contract or sold: 4
• 3 new building sites
  • Average List Price: $1,900,000
  • New listings already under contract or sold: 1

What it means: November saw the fewest new listings hit the market in the past 12 months. On par with last November, this month typically sees very little new inventory. The average listing price of new inventory was higher than usual in November, thanks to 3 new lot listings over $1 million, with one over $3 million. Note that the average listing price of residential listing (not including land) was under $1 million.  As of December 10th, nearly 30% of these new listings are under contract or sold, illustrating that well priced listings are being snatched up very quickly. Given the low level of new inventory, sales last month exceed new listings for the first time since last November. Despite the opening of the Jackson Hole Mountain Ski Resort and the influx of visitors expected for the holidays, it’s apparent that very few sellers are entering the market. That being said, now may be a great time to sell a property as there is little to no new inventory (i.e. competition) coming onto the market. (Please contact me for a free in-depth analysis on the current market value of your property.) 

Notable new listings in November include:

• Rare Creekside townhome on the creek – 3 bed / 2.5 bath / 2 car garage: $597,500
• Three new Aspens condos (2-4 bedrooms) starting at $616,500 (one pictured below)
• Half acre lot in Teton Village, currently the least expensive in the area: $1,350,000

Click HERE to view all new November residential listings.

Click HERE to view all new November land listings.

Click HERE to read the full Monthly Market Update for December 2015.

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